Thursday, October 4, 2012

Actuarial Science - Actuaries have to design and develop new strategies

Actuarial Science

Overview : Business industry is so unpredictable with changing economic scenario and the dynamic market trends. Actuarial science is field of study that applies the mathematical statistical procedures and financial theory concepts to compute the risks. Most of the professionals work in the insurance industries that focus keenly on handling the consequences of risk.

Job Description : The main job responsibility of the actuaries is to analyze the business plans to estimate the probabilities of risk. They have to use the statistical methods and financial knowledge to determine the uncertainties and risk that may occur in future. Actuaries have to design and develop new strategies that will ensure maximum profit. 

Job Outlook : It is one of the most exciting careers in the business world. Job prospects are expected to be good for the candidates with strong mathematical basics, technical knowledge and significant analytical skills. Applicants usually require a bachelor's degree in actuarial science or mathematics or any finance related programs.

Degrees Offered :  Associate's     Bachelor's    Master’s    Doctorate/PhD   Certificate

Expected Job Growth : According to the U.S. Bureau of Labor Statistics the employment opportunities of actuaries is expected to increase by 27 percent from 2010 to 2020. The median annual wages of actuaries were $87,650 in May 2010.

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